Walters estate bought by limited liability company

Friday, February 3, 2012 10:41 AM

Walters estate bought by limited liability company

A limited liability company has paid $2.5 million for the former residence of developer David Walters, a nearly 14,000-square-foot residence that was built on 9.8 acres at an estimated cost of $5 million and that once carried a $3.9 million price tag. BAH 1 LLC, whose address is 3800 Fuller Road in West Des Moines, the same as the property, bought the residence in late January from Northwest Bank. Walters paid $850,000 for the property and at one time carried mortgages of $3.2 million with Northwest Bank and $1 million with First American Bank, according to Polk County property records. The grounds include a 1,400-square-foot guest house that sits next to a 1,000-square-foot swimming pool. Northwest Bank paid $2 million for the property at sheriff's sale in 2009. According to Polk County property records, BAH 1 obtained two mortgages on the property, one for $1.5 million and one for $750,000. The property was valued at nearly $2.8 million.

A limited liability company has paid $2.5 million for the former residence of developer David Walters, a nearly 14,000-square-foot residence that was built on 9.8 acres at an estimated cost of $5 million and that once carried a $3.9 million price tag. BAH 1 LLC, whose address is 3800 Fuller Road in West Des Moines, the same as the property, bought the residence in late January from Northwest Bank. Walters paid $850,000 for the property and at one time carried mortgages of $3.2 million with Northwest Bank and $1 million with First American Bank, according to Polk County property records. The grounds include a 1,400-square-foot guest house that sits next to a 1,000-square-foot swimming pool. Northwest Bank paid $2 million for the property at sheriff's sale in 2009. According to Polk County property records, BAH 1 obtained two mortgages on the property, one for $1.5 million and one for $750,000. The property was valued at nearly $2.8 million.